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Netflix Prepares for Major Staff Cuts with 5 Percent Workforce Reduction Expected
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Moneycontrol•09-10-2026, 21:02
Netflix Prepares for Major Staff Cuts with 5 Percent Workforce Reduction Expected
- •Netflix is reportedly preparing to lay off approximately 5 percent of its workforce with announcements expected as early as next week.
- •The streaming giant employed around 16,000 full-time workers at the end of last year meaning hundreds of jobs could be impacted.
- •This follows a previous major round of layoffs in 2022 when the company faced slowing subscriber growth and subscriber losses.
- •The planned cuts come amid intense competition in the streaming sector from consolidated media companies and YouTube.
- •Netflix continues to diversify its revenue streams by expanding into advertising, live programming, and gaming.
Key Questions Answered
Netflix is reportedly planning to cut approximately 5% of its workforce, which could affect hundreds of jobs.
Netflix's last major round of layoffs took place in 2022 when it cut hundreds of jobs due to slowing growth and subscriber losses.
To diversify its revenue sources, Netflix has been expanding beyond traditional subscriptions by investing in advertising, live programming, and gaming.
